Myriad Genetics, Inc. (MYGN) Updates Q1 Earnings Guidance

Myriad Genetics, Inc. (NASDAQ:MYGN) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.19-0.21 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.24. The company issued revenue guidance of $181-183 million, compared to the consensus revenue estimate of $191.92 million.Myriad Genetics also updated its FY18 guidance to $1.00-1.05 EPS.

Myriad Genetics, Inc. (NASDAQ MYGN) traded up 1.35% on Tuesday, hitting $25.55. 1,859,805 shares of the company were exchanged. Myriad Genetics, Inc. has a 52-week low of $15.15 and a 52-week high of $31.50. The stock’s 50-day moving average price is $24.85 and its 200-day moving average price is $20.44. The stock has a market capitalization of $1.74 billion, a P/E ratio of 54.59 and a beta of 0.31.

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Several research analysts recently commented on MYGN shares. Deutsche Bank AG increased their price objective on Myriad Genetics from $15.00 to $20.00 and gave the company a sell rating in a research note on Monday, May 8th. J P Morgan Chase & Co reaffirmed an underweight rating and issued a $16.00 target price on shares of Myriad Genetics in a research note on Friday, June 30th. BidaskClub downgraded Myriad Genetics from a buy rating to a hold rating in a research note on Thursday, August 3rd. Zacks Investment Research raised Myriad Genetics from a hold rating to a buy rating and set a $28.00 target price for the company in a research note on Monday, July 17th. Finally, Cowen and Company reaffirmed a hold rating and issued a $25.00 target price on shares of Myriad Genetics in a research note on Friday, July 14th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $21.77.

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About Myriad Genetics

Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.